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The Purchase Process in Dubai |
Below is the standard purchase process in UAE, and issues that may affect the purchase:
- Most property for sale in the UAE is new-build, as the housing industry is so young little resale property is available yet.
- All
homes for purchase by foreigners are located within special
pre-approved zones, with resident visas issued on completion for those
wishing to make a permanent move.
- Strict government regulations mean the process is straightforward.
- A
simple sales agreement is the only document required for purchase.
However, this is legally binding and should only be signed when all
reasonable checks have been undertaken and all negotiations completed.
The cost of a standard property purchase in UAE includes the following:
- There is no income tax or capital gains tax on property sales or rentals in the UAE.
- 2-4% stamp duty is payable on property purchases in the UAE.
- A 1.5% land registry fee is also payable on completion.
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